Swindon's Landhawk Software purchased by The Idox Group
Swindon's Landhawk Software has been acquired by Idox for £1.1million, with a further £400, 000 in deferred equity to complete the deal in 18 months.
This is information management company Idox's fourth acquisition in two years. As part of their A&M strategy the group secured Aligned Assets, thinkWhere and EceGesIS in 2021. The latest acquisition focuses on medium term prospects as it is expected LandHawk will not generate profits in Y1.
Idox plc (AIM: IDOX), a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors. The group operate across the UK, France, Berlin, India and the US.
LandHawk Software Services Limited ("LandHawk") are a land mapping software and geospatial information services (GIS) data business, specialising in the renewable energy market.
The deal has been described by Idox as a valuable opportunity to expand the group's client base as well as cross sell into Idox's existing local authority clients to assist in managing their land assets.
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LandHawk provides GIS data directly to clients for use in their own applications, alongside a managed service to support clients in sourcing off-market land.
LandHawk's client base provides opportunities for Idox to compliment their existing local authority land and property base provision. The business was established in early 2020.
Founder and Director Tim Hughes will join Idox and continue to lead and develop the LandHawk business within the Idox Group.
David Meaden, Chief Executive Officer, said: "We have been in dialogue with LandHawk over the past 12 months and have been impressed with the quality of their software, market offerings and people. We are excited by the opportunity to combine LandHawk's impressive technology with Idox's deep expertise in UK Land and Property and GIS data. We collectively see a strong proposition for growth into commercial and public sector use-cases across land sourcing, assessment and management.
"The integration of LandHawk, coupled with the acquisitions of Aligned Assets, thinkWhere and ExeGesIS, places Idox in a strong position to capitalise on the growth of the UK's location data market and lead the market in software solutions.
"This transaction will provide LandHawk with immediate support to its business and products to continue to expand its offerings and grow its customer base across both commercial and local authority markets."
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